When it comes to Social Media, there are two hard and fast rules.
One. Never post a photo or a status after a few beers.
Two. You have to pay to play.
Whether it’s Facebook’s highly documented decline in organic engagement. (We’ve partnered with SEO giants SEMRush to educate the industry on this topic. You can check out our work here).
It’s no longer possible to appear in front of your target audience without opening up your wallet.
But before you delete your Social Media accounts and head back to print advertising, consider this.
Social Media advertising spend is at its highest ever with a forecast spend of $51.3 BILLION in 2018.
This isn’t simply due to the declining value of organic Social Media leaving businesses like you with no other option.
On the contrary, businesses the world over have realised the value of Social Media advertising.
More specifically, the proven ROI that comes with connecting with the 15 million Australians on Facebook each month, and the 9 million using Instagram.
Ever heard the expression, you have to spend money to make money?
Well that’s happening right now on Social Media.
Aussie businesses are turning to the social scene to make big profits.
And we’ve got proof.
Do people actually buy products on social media?
A recent study showed that 76% of consumers have bought a product they saw in a business’ Social Media post.
That’s a pretty significant majority.
We know what you’re thinking right now and let us stop you right there.
You’re thinking, “I’ve never clicked on a Social Media ad, and no one I know has ever clicked on a Social Media ad”.
To that I say – I wholeheartedly believe you.
If you put an ad for your business on the side of a bus. That’s branding. If you left a copy of a newspaper on that bus that contained your ad. That’s selling.
Social Media offers the power of both.
Don’t take our word for it though. Check out what Forbes has to say about the dual power of social selling here.
In short, advertising on Social Media helps you:
- Improve your brand recognition
- Improve brand loyalty
- Improve conversion rates
- Reduce marketing costs
Here’s what happens when people see your Social Media ads
At this point, we’ve established that paying to appear in front of a large and highly targeted Social Media audience is beneficial, but does it translate to sales?
After all, you want to see a return on your social investment.
Well here’s what we’ve found.
When asked, ‘What action did you take after discovering a product in a brand’s Social Media post?’, the following actions occurred.
11% bought a product right there and then. Not an overwhelming result, right?
But take into account the additional 44% of people who bought the product online later.
Or the 21% of people who bought the product at a physical location.
That’s the power of branding and selling right there.
An additional 65% of people bought a product based on the ads they saw on Social Media. Without doing so through a social media ad.
Direct sales are great. But they’re not the only goal.
As the above results show, Social Media advertising places the seed in your audience’s head.
It’s up to you to ensure your digital presence nurtures that seed and encourages it to bloom into a full fledged sale.
When the rest of your digital presence is up to scratch – and that means a landing page that is optimised to convert, or even better, a professional website that is as fast as it is functional (not to mention frighteningly good looking), you are creating the perfect conditions for success.
Remember, Social Media is the first step in generating qualified traffic.
Capture that interest with a landing page or website to turn curiosity into conversions.
Now that you know how powerful Social Media advertising is. Both in the News Feeds of your target audience. And by influencing their purchasing decisions when they put down the phone, there’s only question left to ask.
Have you started using Social Media to grow your business yet?